Coalition splits over early superannuation access policy

Summarised from 2 outlets · Updated 1 Nov, 05:50 · Archive

A Liberal MP says the coalition should ditch its policy of letting people access retirement savings early.

The federal opposition is divided over whether to permit early access to superannuation after months of uncertainty. The coalition campaigned on allowing people to use retirement savings to fund home deposits in the last two elections but has not decided whether to continue the policy after losing the 2025 election.

Liberal backbencher Garth Hamilton, a rural Queensland MP, now believes the party should drop the policy entirely. 'We should be offering no changes at all to how it's invested, taxed or accessed,' he told ABC's Insiders on Sunday. He cited economic uncertainty, with economists predicting next year will be worse than the past year, arguing the coalition's focus should be on financial security.

Hamilton previously supported exploring early access to help home-buyers, as did treasury spokesman Tim Wilson and housing spokesman Andrew Bragg. A DemosAU poll from September found 60 per cent of Australian voters backed using super to buy homes, while 41 per cent supported a One Nation proposal allowing workers to access three per cent of compulsory contributions for three years. Hamilton said he had discussed the issue with Opposition Leader Angus Taylor but had not pressed him on whether superannuation should remain untouched.

How it is being reported

• Cracks emerge in opposition over super stanceA Liberal MP has signalled the party might back away from a fight over whether to let home-buyers and workers access retirement savings early.Perth Now · 1 Nov, 05:27
• Cracks emerge in opposition over super stanceA Liberal MP has signalled the party might back away from a fight over whether to let home-buyers and workers access retirement savings early.The West Australian · 1 Nov, 05:27

In this story: Garth Hamilton · Angus Taylor · Tim Wilson · Andrew Bragg · One Nation · Australian Coalition · Queensland

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